Endowment Sub-Accounting

Endowment Sub-Accounting has become a very important area of our business over the past decade because of its strong accounting similarity to the defined contribution recordkeeping we have been involved with since the early 1970s. Our endowment sub-accounting application has been so well-received that we recently heard from an existing client that the system is "the only application that works right at the bank." While that may be a bit of an overstatement, we certainly take pride in producing a system that has earned a compliment of that magnitude and has produced very satisfied clients.

  • Sub-Accounting - Our flagship sub-accounting application is the answer for fund sub-accounting of Endowments, Planned Giving, Donor Accounting, Pooled Income Funds, Municipalities, and Master Trust recordkeeping. It allows for the pooling of trusts (gifts) for trust accounting purposes (and expense reduction), yet retains the details of the individual trusts (gifts) or Sub-Accounts for client and tax-reporting purposes. The system provides earnings and fee allocations, contribution (gift) and distribution processing, fund transfers, fund reinvestment allocation. It also handles both unitized and cash-only funds and accommodates multiple money types. Allocation methods are customizable at the account level. The sub-accounting system includes a process for loading interface files from a master trust system. Comprehensive reporting in the form of balancing reports, administrative reports, and statements is included. The system can also generate output files for use by a tax-reporting entity or for client review purposes.
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  • Tax Processing - The sub-accounting system supports the creation of output files that are formatted for use by a tax-reporting entity. In addition, the system can be extended to produce the actual tax forms required by the IRS for the various account types.
  • Data Conversion - As with all our applications, our sub-accounting application has a powerful import engine for acquiring sub-accounting data from various input sources. This is helpful when converting new accounts, loading fees, or other detailed transactions by sub-account. We have also written custom interfaces for proprietary master trust systems, as well as custom extracts for clients that need access to the sub-accounting data. In addition, we also have experience in dealing with successor extract files for various trust accounting systems and can help you in conversion projects of that nature.